Global Magnetic Bearings Market 2017-2021
About Magnetic Bearings
Magnetic bearings are bearings that support loads using magnetic levitation. Magnetic bearings support moving parts in equipment without any physical contact. For example, these bearings can levitate rotating shafts and permit relative motion with no mechanical wear and very low friction. Magnetic bearings are bearings that support the highest speed when compared with other bearings and have no maximum relative speed.
Technavio’s analysts forecast the global Magnetic Bearings market to grow at a CAGR of 3.61% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global Magnetic Bearings market for 2017-2021. To calculate the market size, the report considers the demand for magnetic bearing from various end-user applications. The average price of different types of magnetic bearings has been taken into consideration for estimating the market revenue.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Magnetic Bearings Market 2017-2021
Technavio recognizes the following companies as the key players in the global magnetic bearings market: Calnetix Technologies, MAN Diesel & Turbo, Schaeffler, and SKF.
Other Prominent Vendors in the market are: Celeroton, Facility EAST GmbH, evico, Foshan Genesis, LCM, Magnetal, Synchrony, and Waukesha Bearings.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is growth in the nuclear power sector. Magnetic bearings are used in the nuclear power sector in various high torque equipment such as turbines and pumps in reactors. Many countries are involved in generating nuclear power. There are 31 countries hosting nearly 440 nuclear power reactors with a total installed capacity of 390,000 MWe. Further, 60 additional nuclear power reactors are under construction and 160 reactors are under the planning stage. Maximum reactors that are planned to be constructed are in Asia and few major new units in Russia. Capacity is increased by upgrading power plants.”
According to the report, one of the major drivers for this market is growing demand for wind power generation. Wind turbines are a valuable and efficient means of harnessing alternate energy and help in minimizing carbon emission. Wind turbine manufacturers are developing high-capacity turbines to increase power generation. In addition, manufacturers are developing distinct and durable hybrid wind turbines to withstand extreme climatic conditions. This has directly led to the development of large special-purpose wind turbine bearings, thus increasing the performance. Hence, wind energy is one of the key growing markets for industrial bearings globally. The current trend is to shift toward eco-products and the bearings industry must also adapt accordingly.
Further, the report states that one of the major factors hindering the growth of this market is slowdown in Chinese economy. The recent slowdown that the Chinese economy has been experiencing will have an adverse effect on the magnetic bearings market. As per the World Bank, the Chinese GDP grew at only 6.9% in 2015, which was the slowest recorded since 1990. The slowdown is mainly attributed to the sluggish performance of the country's real estate sector
Calnetix Technologies, MAN Diesel & Turbo, Schaeffler, SKF, Celeroton, Facility EAST GmbH, evico, Foshan Genesis, LCM, Magnetal, Synchrony, and Waukesha Bearings.
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